a generic tag related to accumulating cash or bank deposit savings.

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2answers
138 views

What should I consider when I try to invest my money today for a larger immediate income stream that will secure my retirement?

If I only have about a few hundred dollars to invest each month, what are some methods I can use to grow my money long term? I'm willing to take risks if my ROI is substantial. So, if it can start ...
4
votes
1answer
152 views

Where to save money in preparation of buying second house?

We just purchased a house last year with 20% down payment on a 30yr fixed mortgage. Everything finally settle down (remodeling, new furniture etc.) and we're on track of saving again. We don't have ...
3
votes
2answers
99 views

UK: ISA or regular savings account?

I am not a very savvy investor, am new to ISAs and was wondering: where would be the best place to put £10,000 right now (March 2014)? ISAs have tax benefits, but in general don't seem to beat ...
4
votes
1answer
78 views

Investment for young expatriate professionals

I have read this thread Best way to start investing, for a young person just starting their career? and I was interested by many of its topics. I am myself a young professional and I am working in my ...
2
votes
2answers
102 views

Is credit history more important than amount of savings when applying for a mortgage?

I am currently in Australia and fixing to buy a house here. What is given more value when I apply for a mortgage to buy a unit in an apartment: a sound credit history, or a lot of savings in the bank ...
7
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2answers
135 views

Is paying your bills and loans one day before it's due a good practice?

I am a full time working professional. I have the habit of paying my bills and loans a day before it's due. That way I've got more cash on hand. However, I've also read that it is better to pay off ...
2
votes
3answers
96 views

3-year horizon before trading up to next home: put windfall in savings, or pay off mortgage?

Summary: over the 3 years until I trade up to my family's next home, is it smarter to put my upcoming windfall (~$400K, earned over the next 3 years as I vest in stock) in a savings account (earning ...
1
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2answers
61 views

Considerations for holding short-term reserves?

About 20% of my income comes in at the beginning of each year from being a business owner. For the past few years, I've been keeping reserves needed to hold me over to the next year in a money market ...
24
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8answers
6k views

I'm saving money too fast. What should I do?

[Apologies if this sounds (and is) like a first world problem] I get a very generous salary and I am not a spender. I am able to save $2000-$2500 every month. I've invested part of my money in some ...
1
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3answers
179 views

Is compounding interest on investments a myth?

I continually see examples encouraging young people to start investing for retirement with graphic examples using compounding interest to show that starting early pays off big. I've always bought into ...
2
votes
4answers
201 views

What to do with savings for 3-5 years?

Here's the situation: Married, late 30's, combined income around $170k. 2 toddlers. We owe $360k on a house worth $600k. Only other debt is $20k each in student loans. 401k plans are in order. We have ...
5
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3answers
151 views

Should I prioritize paying down my higher interest debt over building an emergency fund, or vice-versa?

I have a debt of $15,000 at a yearly interest rate of 9%, which can be paid within 5 years. Would it be better for me to: Build first the emergency fund (e.g. liquidity for 6 months' expenses ...
0
votes
1answer
45 views

Where can I find information about the relationship between the owner of a company and its business administrator?

Through the past years, working as a employee, I have managed to save some money and now I want to buy a company. I chose a restaurant, because I already have experience in this area. However, I do ...
6
votes
5answers
254 views

Less than a year at my first job out of college, what do I save for first?

I have heard that 6 months of basic living expenses (about $11,000 usd for me) is a good idea to keep around in case of an emergency. Does this mean that All of my savings every month ($800 every ...
3
votes
1answer
154 views

My employer offers an FSA and HRA but it's not enough. What other options do I have?

My financial situation is unique. I have a son with a degenerative illness that requires on going treatment. This year my employer contributed $1500 to an HRA and I contributed $2000 to an FSA. I ...
1
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2answers
245 views

Is it a good idea for me to divert savings to pay off my debt?

I own a car which I had bought under desperation and stupidly agreed to pay a high interest rate (8%). Recently, I used money from my line of credit, which was at 6%, to pay off my car loan. Now I ...
4
votes
5answers
477 views

Should I buy my first car with all of my savings?

Note: I live in Europe. Hopefully - In a few months time I will be (age) legal to drive, and after getting my license I'm thinking of getting a BMW E46 after years saving up cash from my full-time ...
0
votes
0answers
18 views

Tax on savings account if interest earned is more than 10000 RE [duplicate]

What % of tax amount should I pay if I am getting the interest rate of more than 10,000 RS?
2
votes
1answer
81 views

Looking to invest a part of my savings in state loans (bonds), how do I approach this?

I've read in several sources that once you have a certain amount of money it makes sense to invest it, rather than putting it in a savings account. Which makes sense since taxation on investments can ...
3
votes
1answer
1k views

How to invest 10k dollars, at the age of 23?

I have some money of my own that I have saved for years. At the moment I am 23, pursuing my masters. I have a little bit over 10k dollars. What would be a clever way invest my money. I am not looking ...
1
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2answers
111 views

First time investing advice (Canada)

I am 29 years old with a wife and we are planning on having a child in the next 2-3 years and as such I have been making a lot of life changes and planning for the future. Fist off I am sorry this ...
2
votes
3answers
99 views

Whole life insurance - capped earnings

I realize from reading answers here that Whole Life insurance is not the best investment vehicle: When is Cash Value Life Insurance a good or bad idea? How can life insurance possibly work as ...
0
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0answers
48 views

How should a person with zero knowledge invest his money? [duplicate]

I have a friend that doesn't know the first thing about finance, stock market etc. He manage to save some money, and was just about to open a saving in the bank with a little more then the prime ...
0
votes
1answer
136 views

Any Way To Earn Interest On Brazilian Real [closed]

Background: US investor here. Currently, almost every country thinks that it wants a weak currency, except for a few (that have actually experienced one and found out how awful it is). For instance, ...
5
votes
3answers
1k views

Why have U.S. bank interest rates been so low for the past few years?

I have some savings accounts in different banks and they all give 1.00% interest or less, and in many cases it is something ridiculous like $0.05 Would anyone be able to explain why this is ...
1
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1answer
100 views

Calculating required rate of return for an income-generating savings account

Say someone has £1m. They want it to generate an increasing level of income, starting from £25k in year 1, and increasing at a rate 7% + inflation pa, such that the end value of the savings after 20 ...
0
votes
4answers
829 views

I've got $100K to invest over the next 2 to 7 years. What are some good options?

I have ~$100K in cash right now that I need to put somewhere. I plan on using the money for a down payment on a home sometime in the next 2 to 7 years (if I were a betting man, I'd say in 3.5 years). ...
1
vote
0answers
18 views

How do CDIC savings insurance work? [duplicate]

Savings accounts are insured by CDIC up to $100k. Is it a total of $100k across all savings accounts I have with different banks or 100k per account?
9
votes
5answers
920 views

Where does most of a salary go?

I'm not working and earning a salary yet, as I'm still in college, but I was wondering: where does most of a salary go? As a software engineer, I might earn around $70,000 a year. I find it hard to ...
1
vote
1answer
64 views

Would a mortgage lender consider our savings in CDs to be as good as cash?

We are considering placing a chunk of our savings into a long-term CD with a very low early-withdrawal penalty. After looking at a number of different scenarios, we have decided this is the best ...
1
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1answer
5k views

India Income Tax: Need to Pay Tax on Savings Account Interest for FY 2012-13 Or Not?

As per Indian Income Tax rules and regulations, for the Savings Account Interest accrued during the period of April 2012 to March 2013, do I need to pay any tax if it is less than Rs.10000? Or is it ...
5
votes
1answer
95 views

Saving money in college while paying for college

I am currently attending college. I am working internships while not in school and making good money compared to a typical minimum wage job while at college. I am going for my bachelor's in ...
2
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0answers
65 views

How to distribute additional deposits in my CD ladder?

Assume one has a CD ladder with 5 certificates -the longest CD matures in 5 years, the shortest in 1- each with a $2000 initial deposit. Should additional deposits be evenly distributed amongst them? ...
6
votes
1answer
5k views

How many weeks of living expenses does the average American have savings for?

I've heard that an average American has only enough savings to cover 3 weeks worth of living expenses. (I think it was on some radio show.) Is it true? If so, does anyone have the source?
1
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1answer
304 views

Should I move my UK ISA balance into an Australian savings account prior to emigrating?

I have around £6000 in a Santander UK easy ISA, the interest rate on this is 0.10% as listed here I'm planning to emigrate to Australian in the next year, so will be setting up a bank account soon. ...
0
votes
1answer
60 views

Annuities of a non-annual time span

I am having trouble answering this question with any confidence and have no way to check my answer. I was hoping for a walk-through? I plan to save $100 at the START of each month for the next two ...
2
votes
3answers
281 views

Long term saving: Shares, Savings Account or Fund

I'm reasonably disciplined with regard to saving but am unsure as to how exactly I should go about it on a long term bases. Should I favour shares, funds or long term saving accounts? What are the ...
3
votes
1answer
104 views

Is there a non-US app (Chrome/iPhone/Cloud) where one can set financial goals and keep track of progress?

I'm looking for an applications where I can set individual financial goals such as a house, a car, vacations, etc, set how much money I need for said goal, and log progress towards it. Ideally this ...
2
votes
2answers
80 views

How should I specify income that was saved abroad on my children's FAFSA?

I lived and worked in London (even though I'm an American) for the last 5 years, and now I'll be heading back to the states. My children are about to start college and I have money saved in an ...
3
votes
5answers
689 views

How much should I save each month so I can retire early, in my Third World country?

I live in a 3rd-world country. I earn $500/month. How much percentage of my income should I save each month, if I plan for early retirement? Currently I am saving 30% of my income. Is there any ...
2
votes
1answer
215 views

What are some FSA eligible expenses that can be used for baby care?

I signed up for a Flexible Spending Account (FSA), and am now trying to figure out what all is covered under it. I know some of the basic products like band aids and glasses are, but I'm really ...
3
votes
3answers
993 views

What investment options should I consider for my emergency fund?

I have an emergency fund with 3 months of income saved up. It is currently in a money market earning less than 1%. This money is saved in case I lose my job or need to make a major repair on my home. ...
4
votes
3answers
171 views

Protecting savings from exceptional taxes

Cyprus sets a sad precedent in the sense that a government considered taxing up to 10% of private bank savings in order to improve the financial situation of a country. The decision did not pass but ...
2
votes
1answer
198 views

Why doesn't the government pay interest on tax withholding returned via a refund?

When the US government pays you your tax refund, it doesn't include any sort of interest payment for what is essentially a loan to the government. Why doesn't the government pay interest?
3
votes
1answer
353 views

What's the equation for savings growth, that considers contributions?

I'm looking for the equation that basically works like this "Assuming you have X saved, and save Y more a year, and your savings grow at Z percent, you will have S after T years."
3
votes
0answers
75 views

In Germany: can i live in a Betriebstaette to circumvent payment of the Rundfrunkbeitrag

While for a flat a person has to pay 17 sth. € per month, while for a Betriebstätte with one person working a company only hast to pay 5.99 €. As the company doesn't hast to pay anything at all if ...
3
votes
3answers
272 views

is it good to buy insurance policy as investment for beginner?

I have no investment experiences before. So want to get some suggestions. Lately one insurance adviser was suggesting to buy one insurance policy as investment (they called it as saving plan ) . Here ...
1
vote
1answer
94 views

How to automate and streamline saving for multiple large purchases?

My situation is the following: I want to automate as much of my finances as possible I want to have multiple savings goals (perhaps house, wedding, new car, or recurring 'savings' items like car ...
1
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2answers
131 views

Considerations for taking a sizable break from working

The Proposition From time to time, my wife and I consider the "foolish" idea of leaving our jobs (and, likely, careers) and taking a sizable chunk of time off from working, or at least working in the ...
1
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1answer
581 views

How to protect liquid assets from risk of hyperinflation

I don't want to freeze my cash in any medium that would require me to look/wait for a buyer, wait for the collective investment fund to cash my shares as they take their allowance of time to cash them ...